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on the wealthy, along with measures to cut the fiscal deficit. talks between democrats and republicans came to a standstill last week. a deal still remains uncertain. the republicans canceled a vote on their compromise plan. that's because many republicans remain opposed to any kind of tax hikes. >>> china has opened what it calls the world's longest high-speed rail line. the railway links the capital city of beijing and ghangzhou in the south. shun ishibe have more. >> reporter: the first high-speed train for beijing is about to leave guangzhou south railway station. many passengers are carrying coats, because the temperature in beijing is about 20 degrees centigrade lower than here in guangzhou. the new line stretches nearly 2,300 kilometers, including a section already in service. the trip between the two cities will take about eight hours instead of the current 20 1/2 hours. china says it developed the high-speed train line on its own based on technologies used by japan's bullet train. the launch of the new service expands china's high-speed railway network to more than 9,300 kilometers
sets the borrowing limit at $16.4 trillion. the national debt rose because of a series of deficit-covering bonds were issued. the government and the republican party are at odds over the issue. the political stalemate in the summer of 2011 over raising the debt ceiling caused a plunge in stock prices. standard & poor's, the american credit rating agency, has downgraded u.s. government bonds from the top ratings for the first time. here are the latest market figures. >>> the chinese are trying to go head-to-head with the americans in the multibillion dollar sat nav business. their new navigation satellite system or bds is now offering service in the asia-pacific region. >> translator: bds will be used for both military and civilian purposes. it is useful in setting up china's national defense. >> chinese government representatives say the country has launched 16 satellites for bds. they say they plan to put several more into orbit to expand global coverage by 2020. bds is designed to compete with the u.s. global positioning system which has a lock on the consumer market. officials
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